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Jo Said:

Is it ok to drive a car just purchased from a private seller if I get the title changed in my name?

We Answered:

If your plans are to go directly to DMV to transfer the title & registration in your name, just make sure that you have a signed title, a legal bill of sale from your friend & your current insurance paperwork. That way if you do get stopped for an expired registration, you can show proof that you just purchased the car & are on your way to DMV. If the officer is a skeptic- (s)he may follow you to make sure you are in fact going directly to the nearest DMV office. If you fail to go there, then you know how that story will end.

If the officer is being a hardcase, you may get cited or issued a warning. The citation could easily be dismissed if you contest it & the warning will be signed off if you show proof that you did go directly to DMV after receiving the warning (or fix it citation as it's called in some areas) & that the car was legally transferred into your name, new plates if required, etc.

Christina Said:

Does title insurance protect you?

We Answered:

I have used my title insurance. They saved me thousands.

You will NOT be protected from liens that are known now, those have to be cleared before you can obtain title.

They do protect you from ones that come up later that were missed during the search.

They also protect your actual title, if there is any dispute about teh lot lines and what you own they will come in to your defense. Big guns a'blazen too. I could never have afforded the attorney I was given during a dispute I had. No way.

I highly recommend title insurance, it is cheap, and you may never use it, but the things they handle could cost you your lifes savings. They are absolutely the most cost effective insurance there is. Also, they are not like other insurance, where they try to duck claims. No, it is more like they wait for you to call and are ahppy to actually have something real to do.

Brittany Said:

whose responsibility is title insurance in a real estate transaction...buyer or seller?

We Answered:

Both. It depends on what kind. The lender's policy is generally paid by the borrower and the owner's policy is commonly paid for by the seller, but it can be negotiated either way (unless mandated by law otherwise in your state).